海尔智家实现“低投入与高产出” 的强捆绑

Core Viewpoint - Haier Smart Home has achieved a significant transformation through digitalization, resulting in reduced costs and increased profits, which has generated high expectations among investors [1][4]. Group 1: Financial Performance - From 2021 to 2024, Haier Smart Home's revenue increased by 58.8 billion and profit rose by 5.7 billion, while absolute expenses decreased by 3 billion [3]. - The company has successfully combined low investment with high output, demonstrating a strong linkage between cost reduction and revenue growth [1][4]. Group 2: Strategic Positioning - Haier Smart Home focuses on global self-owned brands, high-end creation, and smart home solutions, emphasizing user stickiness and ecological synergy [4]. - The company has integrated distribution into its management system, achieving over 3-4 percentage points in fee rate advantage, which enhances terminal control and flexibility [4]. Group 3: Investment Focus - Haier Smart Home's investment strategy includes building a global brand matrix through acquisitions, such as GE Appliances and Candy, to establish a localized R&D, manufacturing, and marketing system [5]. - The company employs a differentiated strategy for high-end brands, creating immersive experiences to quickly build market appeal and enhance brand value [5]. - Investments in smart home solutions have led to the establishment of a comprehensive ecosystem, including scenario-based store construction and community demonstration projects [5]. Group 4: Long-term Vision - Haier Smart Home's strategic investments are now yielding high returns, with high-end brands like Casarte showing strong market appeal and user loyalty, achieving a repurchase rate exceeding 30% [6]. - The company's digital transformation has led to continuous cost reduction and efficiency improvement, with 74% of counties achieving direct product delivery to users by the third quarter of 2025 [6]. - The global business has seen increased brand recognition and reduced customer acquisition costs, with overseas revenue growing by 10.5% year-on-year in the first three quarters of 2025 [6].